Autodesk Earnings: Here’s Why the Stock is Falling Now

Autodesk, Inc. (NASDAQ:ADSK) delivered a profit and missed Wall Street’s expectations, AND came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares are down 4.10%.

Results: Adjusted Earnings Per Share decreased 10.64% to $0.42 in the quarter versus EPS of $0.47 in the year-earlier quarter.

Revenue: Decreased 3.16% to $570 million from the year-earlier quarter.

Actual vs. Wall St. Expectations: Autodesk, Inc. reported adjusted EPS income of $0.42 per share. By that measure, the company missed the mean analyst estimate of $0.45. It missed the average revenue estimate of $583.4 million.

Quoting Management: “A mixed global economy weighed heavily on our first quarter results,” said Carl Bass, Autodesk president and CEO. “There were positive areas in the quarter but overall, a weak April led to a disappointing finish to the quarter. While the global macroeconomic conditions are uneven, we remain focused on revenue growth by delivering the best design solutions to our customers.”